What is Net Banking? | Net banking Best Bank
All About Internet Banking
Internet Banking is a user friendly facility through which you can perform financial transactions online using website interface. One can perform financial transactions using net banking either from his/ her computer or from mobile. You can transfer money to other person's account, pay bill online and do many other such transactions. ICICI Bank was the first bank to initiate net banking or internet banking service in India in 1997.
Net banking or Internet banking saves your time and effort. You can do transaction sitting at home or office and there is no need to go to the bank or any other place for the same. It promotes paperless transactions. It allows you to access your account anytime around the clock. Net banking provides speedy processing of transactions. It facilitates convenience. It is available 24X7.
For banks also, it is very beneficial as their customer coverage has been increased a lot and cost of operation has also been reduced.
Internet banking benefits - You can conduct multiple types of transactions using net banking such as:
- Check your account balance
- View Recent Transactions
- See Account History
- Pay bills
- Transfer funds
- Apply for Loan
- Download Account Statement
- Print Account Statement
- Request for cheque book
- Open your Fixed Deposit Account
- Apply for Credit Card
- Manager Multiple Users and Billers
- Customer Service
- Buy Insurance
- Apply in IPO
- Mobile Recharge
- Railway Ticket Booking
- Online Shopping
Benefits of Internet Banking
| Factor | Description |
|---|---|
| Easy, quick and convenient | It is time saving as there is no need to visit a branch, stand in queues or write cheques to carry out a transaction. Transaction is processed instantly. |
| Safe and highly secure | Highly secured with 2-layer and 3-layer security protection for online transfer or digital transaction. |
| Wide range of transactions | A huge number of financial and non-financial transactions can be performed using net banking. |
| Always available | It is available 24x7 on all 365 days. |
| Tracking | You can track your transactions actively. |
Initial Requirement for Using Net Banking
- You should have Internet Connection
- Registration with bank for net banking
- Net Banking Id and Password
- Mobile Number Registered with Bank
- Beneficiary's Details
- Authorised Official Websites